Juuri Partners has made a significant investment in the design engineering firm Co-Engineering Ltd. The company is seeking strong future growth, which is supported by the green transition and its special expertise in energy and industry.
Juuri Partners has acquired a 45 % stake in Vaasa-based Co-Engineering Ltd, which offers expert services especially for the needs of green energy and industry. Typical design projects include power stations, wind power generation and production control systems.
The majority of Co-Engineering’s business is carried out at the customer’s premises as part of the customer’s design engineering team. The company’s largest customers include ABB, Hitachi Energy and Wärtsilä. The company has offices in Vaasa, Seinäjoki, Tampere and Helsinki, as well as in Östersund, Sweden.
The company, founded by entrepreneur Sami Kivioja, has grown with an annual rate of over 20 %, doubling its turnover in five years. In 2021, the company’s turnover was EUR 8.6 million. In the future, the company will aim to grow strongly through both organic growth and acquisitions with a goal to triple turnover by 2025.
Sami has been able to grow his company successfully. Now is the right time to take the next step in developing the company. We are able to support growth not only financially but also strategically, says Tommi Asmala, Partner in Juuri Partners.
Positive outlook supported by strong tailwinds from green energy transition and grid investments
The transition to green energy will strongly support the future of Co-Engineering – for example, wind power production in Finland is forecasted to quadruple during the 2020s. In the field of wind power, Co-Engineering’s services range from the design of wind farms to their erection, commissioning, maintenance and servicing.
Investments in the electricity network are also significant from an operational point of view. Co-Engineering has strong special expertise, especially in electricity transformer station design. Significant investments in the electricity grid are expected as energy production diversifies and as grids get smarter. Among other things, it is estimated that up to more than two billion euros will be invested in the main grid over the next 10 years.
In addition to the green transition and the energy industry, the digitalisation and automation of industry also require special expertise. Design engineering firms such as Co-Engineering alleviate the skills shortage in these fields, while attracting experts with strong career development model and varied roles.
We solve even the most complex challenges for our customers. We also invest heavily in our employees’ career development. At Co-Engineering we do not wait years for career development, but concrete plans for career development can be made as soon as the employee shows interest. Our goal is to recruit a significant number of new experts as part of our growth story, says Sami Kivioja, CEO of Co-Engineering.
For more information:
Tommi Asmala, Partner, Juuri Partners Oy, tel. +358 40 534 6228, tommi.asmala@juuripartners.fi
Sami Kivioja, CEO, Co-Engineering Oy, tel. +358 50 441 6210, sami.kivioja@co-engineering.fi
Co-Engineering Ltd
Co-Engineering Ltd, founded in 2013, offers electrical and automation design expertise for the needs of green energy and industry. In 2021, the company’s turnover was EUR 8.6 million. The company has about 90 employees in Finland and Sweden.